By the way，Hilton Honors Points are still on sale, and you can get up to 40% Bonus: Buy Points Now

I recommend you redeem free nights with your points like this：

You can redeem free nights for low category hotels (those are mainly distributed in Asia), or alternatively, redeem hotels during prime season: for example, a free night at Hilton Suites at Times Square will cost you 95,000 points (500 US dollars) for the new year eve, but the bar price is way more than that-5000 US dollars and even more...